Lexeo Therapeutics, Inc. LXEO
We are a clinical stage genetic medicine company dedicated to reshaping heart health by applying pioneering science to fundamentally change how cardiovascular diseases are treated. We are advancing a portfolio of therapeutic candidates that take aim at the underlying genetic causes of conditions, including Friedreich ataxia, or FA, cardiomyopathy, plakophilin-2, or PKP2, arrhythmogenic cardiomyopathy, and other devastating diseases with high unmet need.
Our most advanced cardiovascular product candidate, LX2006 for the treatment of FA cardiomyopathy, is currently being evaluated in SUNRISE-FA, our ongoing Phase 1/2 clinical trial and in a Cornell investigator-initiated trial. In October 2025, we reported positive interim clinical data demonstrating an encouraging safety profile and evidence of meaningful cardiac and functional benefit. Further, interim clinical data presented in a late-breaker presentation at the American College of Cardiology (ACC) Annual Meeting in March 2026 continue to show sustained or deepening improvements across both cardiac and neurologic measures of FA. In February 2026, we submitted the final registrational trial design and statistical analysis plan for the SUNRISE-FA 2 study to the U.S. Food and Drug Administration (FDA) following a Type B meeting. We expect to receive final feedback from the FDA in the second quarter of 2026 and plan to initiate a registrational study in the first half of 2026.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | — | — | — | $654.0K | — |
| R&D | $63.8M | $74.1M | $53.1M | $49.2M | — |
| SG&A | $45.5M | $31.7M | $15.4M | $12.0M | — |
| Total operating expenses | $109.3M | $105.8M | $68.5M | $61.2M | — |
| Operating income | -$109.3M | -$105.8M | -$68.5M | -$60.5M | — |
| Interest expense | $95.0K | $137.0K | $205.0K | $91.0K | — |
| Pre-tax income | -$99.7M | -$98.4M | -$66.4M | -$59.3M | — |
| Income tax | $0 | $0 | — | — | — |
| Net income | -$100.0M | -$98.3M | -$66.4M | -$59.3M | — |
| EPS, basic | -1.86 | -3.09 | -12.40 | -36.36 | — |
| EPS, diluted | -1.86 | -3.09 | -12.40 | -36.36 | — |
| Shares, diluted (wtd. avg.) | 53.6M | 31.8M | 5.4M | 1.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $63.0M | $35.0M | $124.7M | $80.6M | $135.9M |
| Short-term investments | $118.8M | $86.5M | — | — | — |
| Total current assets | $188.4M | $126.1M | $124.3M | $80.0M | — |
| Property, plant and equipment | $1.1M | $1.0M | $1.1M | $998.0K | — |
| Total assets | $268.7M | $146.9M | $139.8M | $97.1M | — |
| Accounts payable | $4.9M | $6.4M | $3.8M | $2.7M | — |
| Total current liabilities | $16.8M | $22.8M | $17.2M | $14.3M | — |
| Total liabilities | $22.0M | $30.1M | $26.3M | $25.0M | — |
| Retained earnings | -$380.1M | -$280.2M | -$181.8M | -$115.4M | — |
| Total equity | $246.7M | $116.8M | $113.5M | -$113.0M | -$55.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$98.6M | -$81.2M | -$59.5M | -$54.6M | — |
| Stock-based compensation | $12.1M | $12.5M | $3.0M | $1.8M | — |
| Capital expenditure | $397.0K | $481.0K | $115.0K | $672.0K | — |
| Investing cash flow | -$90.3M | -$94.1M | -$165.0K | -$901.0K | — |
| Financing cash flow | $216.8M | $88.8M | $103.8M | $189.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-132085.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $654.0K | — | — | — |
| Gross profit | — | — | — | — | — |
| Net income | — | -$59.3M | -$66.4M | -$98.3M | -$100.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event Item 8.01
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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